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May has been a busy month in the world of UK business news. In this edition of Business Bookmarks, we share a couple of the top news stories from the last four weeks, along with looking ahead at what business owners can do to make their employees feel supported during London Pride.
To Read
Trouble at No.10
After weeks of speculation, Theresa May has formally announced her resignation as the leader of the Conservative Party.
SME owners across the UK have been waiting in anticipation as the Brexit rollercoaster continues to take turn after turn. In the last few weeks, May faced backlash after her most recent Brexit plan once again failed to gain the support of her party. Her formal resignation followed soon after. In terms of her replacement, hopefuls include Boris Johnson, Michael Gove, Jeremy Hunt, and Sajid Javid, amongst many more. As the uncertainty continues, it's worth following the latest and considering the impact on your small business and the wider economy. (Via The Guardian)
Lord Stuart Rose on retail
Following both the collapse of the Jamie Oliver empire, and Arcadia's announcement to close many of its UK stores this month, Lord Stuart Rose shares his thoughts on how the highstreet is purging those unwilling to adapt.
Citing the increased power of the consumer as the driving force behind changes within retail, Lord Rose claims that retailers who put customers at the heart of everything they do will come out on top. The chairman of Ocado goes on to explain that the demand-led economy means that customers have far more choice today than they had 40 years ago and this means that it's imperative for retailers to reinvent themselves and adapt to customer needs accordingly. You can read his full thoughts below. (Via Real Business)
To Action
How Google Data Studio can speed up reporting
In this article for the Knowledge Hub by Cedarwood Digital, Edgars Boitmanis shares his experience of switching to Google Data Studio for client reporting.
Google Data Studio is a free tool that pulls in data from the Google Suite to streamline reporting for busy business owners. In this in-depth guide, Edgars provides a quick look at some of the key features of the tool, along with sharing how it transformed the way Cedarwood Digital approaches client reports. He also highlights eight ways that the tool can benefit any SME which regularly provides progress reports to its clients. If you’re looking for a way to streamline client reporting, this one is well worth a read. (Via The Knowledge Hub)
Company rituals to engage employees
Kimberly Zhang takes a look at how workplace rituals within some of the world’s top tech firms contribute to a strong company culture.
From LinkedIn’s regular speaker series, wellness events and volunteer days, to Pinterest’s annual Knit-Con, there's no doubt that the big players are able to set aside a large chunk of their budget on promoting a strong culture and keeping employees engaged. Using major firms such as Adobe and Apple as examples, Kimberly shares practical ways for small businesses to create a big impact through company culture. It's a must-read if you're looking for some insight into how your startup or SME can achieve the same strong sense of culture on a smaller budget. (Via Entrepreneur)
Holding speaker events is a great way to get your employees away from their desks to engage with the wider business.
To Inspire
The business of risk taking
In this podcast by Masters of Scale, Shellye Archambeau, former CEO of MetricStream, shares her thoughts on the business of risk taking.
Shellye accepted the role of CEO for a failing tech company that was months from bankruptcy and proceeded to lead the company through a complex merger, resulting in a total turnaround and a business now worth hundreds of millions of dollars. She talks to the podcast host and LinkedIn Founder, Reid Hoffman, about how setting clear goals and taking risks allowed her to pull off this incredible Silicon Valley turnaround. She's also joined by special guest Liv Boeree, the only female poker player history to hold both World Series of Poker and European Poker Tour champion titles. (Via Masters of Scale)
A directory of women in finance
Trade publisher Medianett is releasing a directory of talented women in the financial services sector later this year, in an attempt to achieve a better gender balance in the sector.
Managing Director Caron Schreuder revealed that out of 23 financial services events held between 2018-19, there was an imbalance of only 89 female public speakers versus 391 male public speakers. Caron also struggled when trying to put together a diverse panel of speakers at the 2018 Finance Professional Show, and has voiced how there is an underlying lack of visibility when it comes searching for female representation within the industry. As such, the upcoming females in finance directory will allow women at every level to put themselves forward for opportunities through an online portal. You can learn more about it below. (Via Bridging and Commercial)
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To Consider
A new take on receipts
Ever wonder how data visualisation can be applied to your purchasing patterns at the supermarket? If so, this one’s for you.
Data Visualisation engineer Susie Lu often spends her free time thinking of ways that data visualisation could be used to redesign our day-to-day experiences. The result of her latest project is a receipt topped with a bubble chart showing spending itemized by category, followed by a traditional list of purchased items. The design allows the user to quickly assess which food groups or categories the majority of their budget was spent on. This provides an interesting take on an otherwise mundane part of our everyday lives and gives insight into how redesigning a simple everyday item can impact the way we shop. (Via Fast Company)
Creating an inclusive culture
In the wake of Brunei’s introduction of the death penalty for same-sex relations, Richard Branson shares his thoughts on how business leaders can do more to support LGBT+ rights.
The article highlights four steps UK SME owners can take to make their LGBT+ employees feel supported in the workplace, including creating an inclusive culture free from discrimination and supporting LGBT+ communities at risk in criminalizing countries. Richard ends the piece with an open letter urging business leaders to stand up for the freedom to love and highlighting how they can show support for LGBT+ rights. And with Pride Month just around the corner, there's no better time to address inclusion within your workplace. (Via Virgin)
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